Ford Mustang Mach-E vehicles at a Ford dealership in Colma, California, on July 22, 2022.
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After a home, buying a car is the most expensive purchase most consumers will ever make during their lifetime. The transition to electric vehicles by major auto makers is likely to make the process a little more stressful, at least in the early days of the EV era when many consumers are still under-informed on EV basics. If consumers are to be sold on the mass adoption of battery-powered electric vehicles, car dealers are going to be essential to the pitch. It’s the network of franchise auto dealers who provide education, service, and face-to-face sales, so companies like GM and Ford are working closely with them. But it’s a daunting moment for both sides of the car business.
“We haven’t had a shift of this magnitude in the auto industry ever,” said Robb Hernandez, president of Monterey Park, Calif.-based Camino Real Chevrolet. “The ground is still moving beneath dealers making decisions. The automakers are doing their best making this shift, but the regulation is more of the driving force of how we will all have to pivot.”
That includes his home state of California, where 100% of new car sales are mandated to be EVs by 2035.
“I can only speak for GM,” Hernandez said. “They are listening as we make these changes but the landscape is ever-changing at this point,” he said. But he added, “Most auto dealers are optimistic and excited for the changing landscape.”
As of late last year, 65% of Ford’s dealers had opted into the EV certification program (a little under 2,000, according to data shared by Ford), as it has started to make the role of car dealers central to the EV transition process.
Many consumers want a streamlined process and virtually every transaction today has some online component, according to Brian Maas, president of the California New Car Dealers Association. But with the complicated nature of a vehicle purchase transaction (trade-ins, financing, purchase of extended warranties and other products), a fully online experience will only work for a percentage of car buyers. “The rest will still want to ‘kick the tires’ and take a test drive before investing $50,000+ in the average new car,” he said.
This preference is expected to hold true for EVs. A recent report from the California Air Resources Board (CARB) cites “customer choice,” “vehicle availability,” and “affordability” as keys to mass adoption, all of which require a critical role to be played by dealers.
“I think CARB understands that dealers are essential to the adoption of EVs,” Maas said.
He pointed to several factors. First, and most obvious, outside of Tesla it is franchised dealers who have to explain and sell this new technology to the mass market. Second, all the incentives adopted federally and in states such as California are administered by or through dealers. And finally, EVs won’t approach affordability in the short term without dealers making these funds available to consumers and explaining how these programs work at the point of purchase.
Kerrigan Advisors, which works with dealership groups on sales and acquisitions, noted that Ford, relative to some top global competitors, has a relatively large dealership network to manage through the EV transition. “To some, Ford’s approach is a way to weed out the smaller dealers who are unwilling to make the EV investment,” said Erin Kerrigan, founder and managing director. “Keep in mind Ford has over 3,000 franchises in the U.S.,” Kerrigan said. “By contrast, Toyota has only 1,482 and sells more vehicles than Ford.”
But she expects more Ford dealers will opt in at a future date, once they observe a meaningful consumer shift to EVs.
Timing of the EV transition is a concern
While EV sales are increasing rapidly — as recently as 2021, total battery-powered electric vehicle sales in the U.S. were under 450,000, but Kelley Blue Book says sales surpassed 800,000 in 2022 and are expected to top one million this year — dealers remain cautious about the timelines outlined by the auto companies.
“Despite significant increases in EV sales in 2023, dealers are largely skeptical about the OEM’s timeframes on the EV rollout,” Kerrigan said. “Many say they expect the rollout to take twice as long as expected and EV market share to be half as much as projected by the OEMs.”
Ford’s opt-in window will open again in 2027 for dealers that did not initially join.
Using California as a model — with its timeline being the most aggressive – the process can begin to feel pretty squeezed, Maas said.
“I like to point out that this is the most significant change in personal transportation since we went from horses to automobiles early in the 20th century. In addition to changing how vehicles are powered (from ICE to BEV), we have to provide the infrastructure for charging these vehicles and the electrical grid to support such charging, and we have to convey to consumers that their driving behavior will have to change,” he said. The CARB 2035 goal is ambitious, and California is much further along than any other state with a similar goal or considering adopting one, but “it’s still a significant leap,” Maas said.
Dealers also read the headlines and have concerns about OEMs being able to produce EVs at the pace required by mandates, with raw materials like lithium and cobalt in high demand and uncertain supply. As big a supply-demand issue is whether consumer interest will be sufficient to meet the mandate set by the state government in California for a full transition in 12 years. It is a national and state transition that ultimately becomes a local decision.
Even within California, a dealer in a rural area of the state where EV charging infrastructure is a challenge and where public investment in charging will be less likely is going to be more wary than a dealer in a major metro area in the state. A dealer in Santa Monica may decide more quickly, “I need to be all-in on EVs,” Maas said. “Where you stand depends on where your business sits,” he said. “Significant EV adoption in large cities in California seems pretty clear now, but the question is will we have significant EV adoption throughout the entire state, will Eureka have it at the same pace as LA? Maybe, maybe not?” Maas added.
Who pays for EV charging
The charging element of EVs, more than any other factor, influences how an individual’s day unfolds in a state like California where two million new cars are sold annually. Factors include car owners who live in multi-family housing; and the time it can take to charge — as much as 30 minutes to several hours vs. less than five minutes today to fill a gas tank at the many fueling stations with prices prominently posted and adjusted frequently.
“These challenges aren’t insurmountable, but we do have to explain them to consumers, honestly, so that future car buyers are prepared for what lies ahead,” Maas said.
To become “EV certified,” Ford dealerships can buy into a $500,000 tier or a $1.2 million tier, with the vast majority of that investment tied to the expense of installing EV charging infrastructure. At the lower end, this certification provides dealers with repair and maintenance capabilities and a public DC fast charger, but no EVs to show in the showroom, and no access to a Ford.com presence. It also caps their total EV sales at 25% of inventory. The “elite” tier provides two public DC fast chargers, demo units, rapid replenishment, and a presence on Ford.com.
Ford CEO Jim Farley told Automotive News last December when it announced that two-thirds of dealers had signed on for the EV program (most for the higher-priced tier), “The future of the franchise system hangs in the balance here,” Farley said. “The No. 1 EV player in the U.S. bet against the dealers. We wanted to make the opposite choice.”
But specific concerns from dealers, expressed to Ford, offer a window into the desire on the part of the dealers to also ask for deepening commitment from Ford as part of their own commitment to the e-certification program. One issue has been dealer reluctance to offer public charging at their locations and asking Ford to up its own investment in public charging, even though dealers are aware the OEMs are spending billions on factories for new EVs and batteries.
Dealers are prepared to offer charging for new vehicles to be sold on their lot and vehicles being serviced. But OEMs asking dealerships to serve as public charging stations has led to pushback. “Tesla pays for its supercharging network, yes with lots of taxpayer subsidies, but they pay,” Maas said. “Dealers are in the business of selling and servicing cars, not selling electrons,” he said. While future business cases may prove that dealers can make money from charging, Maas noted that the selling of electrons is heavily regulated by public utility commissions across the country. “Maybe dealers just want to sell and service cars,” he said. “I haven’t been to a dealership that sells gasoline.”
Charging is a big issue, but not the only issue for dealers.
“While 24/7 public charging has perhaps garnered the most attention, there are numerous program features that we have asked Ford to modify or eliminate,” Maas said.
Dozens of state dealer trade associations have challenged Ford on multiple aspects of its EV certification program, including its basic legality relative to state law about franchise models.
Auto makers reliant on the franchise model have a financial incentive to control more of the margin that will be available in the EV market, and have learned from watching the margin profile and quality control enjoyed by Tesla’s direct-to-consumer model.
“We have to change our cost profile,” Ford CEO Jim Farley told CNBC in February.
There is always tension between franchisors and franchisees, and all states have franchise laws to try and balance the relationship, and where individual dealers and dealer associations are pushing back is where they feel OEMs are using the EV transition as a way to make asks they never would have made previously. That is not limited to charging, but OEM programs dictating how consumers can reserve EVs, and prescribing how EVs have to be sold, dealer trade-in programs, and service contracts.
“Dealers generally chafe at manufacturer requirements that intrude on their ability to sell to their customers,” Maas said. “OEMs make cars and the dealer buys them at wholesale and the dealer sells. Why should that change because it’s powered by electricity? There’s nothing magic about the fact that it is powered by electricity,” he said.
Auto dealership sales market remains hot
Kerrigan said most of the dealers with whom she speaks do expect GM to eventually have a similar program to Ford’s. Meanwhile, GM is reducing its dealer headcount by buying out existing dealers. In the case of Buick, GM is offering a franchise buyback for those dealers who do not want to make the EV investment. Cadillac has also “quietly reduced” its dealer count through buyouts, Kerrigan said. As opposed to Ford’s “pay-to-play” strategy, she described GM’s current approach as more carrot than stick and, in reducing franchise count, ensuring the GM network is well-positioned to sell and service EVs.
Dealers, though, may see two sides to the ways both big OEMs are playing the EV transition. Ford, by giving dealers the option to opt in later, will be seen by some dealers who are more reluctant today as being more flexible, if requiring more of an upfront investment today. Some dealers may see the GM approach as the more rigid one, based on their situation. “If you sold your store, there is no changing your mind,” Maas said. The OEMs are in a difficult position attempting to meet all dealer needs and concerns about EVs. “It’s hard to have a national program that is one size fits all for the new vehicle market,” he said.
In the short-term, the EV concerns are not proving to be a big factor in overall willingness among entrepreneurs to invest in car dealerships. Amid a big jump in new and used car prices — the average new car retail price increased from $33,000 to over $46,000 between 2015 and 2023 — transactions in the auto dealer market were the second-highest ever in 2022, according to Kerrigan, with a record 845 franchises sold during the first three quarters of the year. While publicly traded auto retailers retreated from the market as their stock market valuations were cut, private buyers increased their presence as earnings soared for the third-consecutive year. Average dealership earnings rose 9% in 2022, which was 210% above the pre-pandemic five-year average.
“Even in a rising interest rate environment, dealers voted with their pocketbooks and grew their businesses through acquisition in 2022 and continue to do so in 2023,” Kerrigan noted in its April report on sales activity.
Car dealership owners have proven to be an adaptive group of small business owners throughout history.
“Dealers are very resilient business people,” Kerrigan said. “The demise of the auto retail business model has been erroneously predicted countless times.”
She said most are not overly concerned about the shift to EVs. While some worry about a decline in fixed operations revenue from sales and service as ICE cars disappear, others see the potential for higher revenue in the service and parts department as dealers retain a higher percentage of the customer service spend with EVs. Maas said while there has been a lot of talk about a service business cliff related to EVs, it’s just talk. “Service is not going away,” he said. In 2022, service contributed 12% of dealership revenue, according to the National Auto Dealers Association, versus nearly 50% for new car sales and 38% for used vehicles.
Dealers are gaining a larger share of EV sales, totaling almost 260,000 units in 2022, according to NADA, and dealers capturing 35% of the new EV market by the end of the year. “We expect this to continue as more BEV models are released by the legacy OEMs in the coming years,” NADA said in its annual report.
“The smartest dealers are trying to figure out where this is going and make decisions both for their family and investment in the business,” Maas said. “Ultimately, it will be up to consumers to tell the dealers and OEMs and the larger market what’s going to happen, because if consumers buy these vehicles in huge numbers it’s a signal to the market we need to respond. But if they don’t buy at the pace CARB has set, then some adjustments have to be made.”
Global renewable developer and energy giant RWE has halted its US offshore wind operations “for the time being” because of the “political environment” the Trump administration has created.
RWE, Germany’s biggest electricity producer, said in March that it had dialed back its US offshore wind activities. But now, CEO Marcus Krebber said in a speech transcript, which he’ll deliver at the company’s Annual General Meeting in Essen on April 30, that its US offshore wind business is now closed (but it wasn’t all bad news):
In the US, where we have stopped our offshore activities for the time being, our business in onshore wind, solar energy, and battery storage has so far been developing very dynamically. At the start of this year, we reached an important milestone when our US generation capacity hit the 10 gigawatt mark. The construction of a further 4 gigawatts is secured.
He went on to say that renewables have created regional value and jobs, but that the company remains “cautious given the political developments.” RWE has introduced more stringent requirements for future US investments:
All necessary federal permits must be in place. Tax credits must be safe harbored and all relevant tariff risks mitigated. In addition, onshore wind and solar projects must have secured offtake at the time of the investment decision. Only if these conditions are met will further investments be possible, given the political environment.
About half of RWE’s installed renewable capacity is in the US, where it’s the third-largest renewable energy company through its subsidiary, RWE Clean Energy. RWE holds the rights to develop US offshore wind projects in New York, Louisiana, and California.
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RWE paid $1.1 billion for the New York lease area in 2022, where it’s meant to develop the 3 gigawatt (GW) Community Offshore Wind with the UK’s National Grid. Community Offshore Wind was projected to come online in the early 2030s and expected to power more than a million homes.
The developer paid $5.6 billion for the Louisiana lease in the Gulf of Mexico in 2023 as the lone bidder for development rights, and the Canopy Offshore Wind project off Northern California was not expected to be completed for another decade.
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WASHINGTON – President Donald Trump and his allies have raked in nearly $900,000 in trading fees over the past two days from the president’s $TRUMP cryptocurrency token, according to Chainalysis, a blockchain data company.
The surge came after a Wednesday announcement in which the top 220 holders of the token were promised dinner with the president.
“Have Dinner in Washington, D.C. With President Trump,” reads a message on the front page of the Trump coin’s website. The event, which is black tie optional and hosted at the president’s private club in the Washington area, is scheduled for May 22, with a reception for the top 25 holders. A “VIP White House Tour” will take place the following day, the site says. The website also hosts an active leaderboard displaying the usernames of top buyers.
The $TRUMP memecoin jumped more than 50% on the dinner news, boosting its total market value to $2.7 billion. It was met with fierce criticism from some of Trump’s political opponents who said the move was further evidence that the president was using crypto to enrich himself. Sen. Chris Murphy, D-Conn., a prominent Trump critic, wrote on X that the sale was “the most brazenly corrupt thing a President has ever done. Not close.”
Roughly 80% of the $TRUMP token supply is controlled by the Trump Organization and affiliates, according to the project’s website. Since its launch in January, trading activity has generated about $324.5 million in trading fees for insiders, Chainalysis found. These fees are generated through the token’s built-in mechanism that routes a percentage of each trade to wallets controlled by the project — wallets that, according to the website, are linked to the coin’s creators.
Memecoins, often referred to as meme tokens, are a subset of digital assets that use blockchain technology and derive their value largely from internet culture, memes and social media hype rather than from an underlying utility or asset. The originators of memecoins can make fees when their coins are bought and sold.
They have grown in popularity in recent years as speculative assets, with some coins including dogecoin and fartcoin amassing total market values in excess of $1 billion.
Most of the $TRUMP supply remains locked under a three-year vesting plan, with coins gradually becoming available over time. Lockups like these are meant to protect investors by preventing insiders from cashing out all at once — a scheme commonly known in the crypto world as a “rug pull.” Vesting schedules aim to give retail buyers confidence that early holders won’t overwhelm the market and tank the token’s value.
Still, the dinner contest is being viewed by critics as an unusually explicit attempt to monetize presidential access.
As CNBC reported Friday, Democratic Sens. Adam Schiff of California and Elizabeth Warren of Massachusetts are urging the U.S. Office of Government Ethics to investigate whether the promotion constitutes “pay to play” corruption.
The White House did not respond to a request for comment. The company behind the memecoin also did not respond to a request for comment.
Delaney Marsco, the director of ethics at the Campaign Legal Center, a nonprofit focused on campaign finance and government accountability, told NBC News the coin and dinner contest amounted to an unprecedented ethics breach — though it is unlikely to be illegal.
“Criminal conflicts of interest statutes don’t apply to the President,” she said. “That has allowed him to go against decades of of norms that every modern president since Carter has adhered to, which is to divest your financial interests, rid yourself of your businesses, and kind of go in to the presidency with a clean financial slate so that no one could accuse you of manipulating policy decisions or using your position in order to enrich yourself.”
“The fact that he is not barred by the law from having these financial interests like this meme coin allows him to engage in a lot of seemingly corrupt activity. It has the appearance of a pay to play, so the President is apparently selling access to himself,” Marsco added.
Molly White, an independent crypto researcher, told NBC News that the leaderboard only shows top $TRUMP holders — and then only by their chosen screen name, making it difficult to identify who is paying to potentially join the dinner.
Schiff and Warren have cited public reports showing that some $TRUMP investors have ties to foreign exchanges or received funds from crypto platforms banned in the U.S., including Binance.
White also noted that at least one top $TRUMP owner has an account on Binance, a cryptocurrency company that doesn’t allow American users.
Trump was elected with significant help from the cryptocurrency industry, which poured tens of millions of dollars into the 2024 election, outpacing corporate donations from traditional sectors like banking and oil. After opposing digital assets during his first term, Trump pivoted in 2024 to campaign as a champion of cryptocurrency, casting Democrats as hostile to innovation and as advocating for tighter regulation.
The $TRUMP token itself offers no product or service, according to the project’s website. It is part of a broader push by the Trump family into digital assets, despite the market’s volatility and regulatory risks.
In addition to the $TRUMP and $MELANIA meme coins, the family is backing World Liberty Financial, a decentralized finance venture that has raised $550 million across two token sales since last October. Buyers are barred from reselling their tokens and receive no share of profits — but a Trump-affiliated entity is entitled to 75% of net revenue, including token sale proceeds.
Together, these projects have created new streams of revenue for Trump and his inner circle at a time when regulatory oversight of cryptocurrency has weakened sharply under his administration.
It’s that time of year again, time for events across the country to show off electric vehicles at Drive Electric Earth Month.
Drive Electric Earth Month is an offshoot of Drive Electric Week, a long-running annual tradition hosting meetups mostly in the US, but also occasionally in other countries. It started as Drive Electric Earth Day, but since not every event can happen on the same day, they went ahead and extended it to encompass “Earth Month” events that happen across the month of April. It’s all organized by Plug In America, the Sierra Club, the Electric Vehicle Association, EV Hybrid Noire, and Drive Electric USA.
Events consist of general Earth Day-style community celebrations, EV Ride & Drives where you can test drive several EVs in one place, and opportunities to talk to EV owners and ask them questions about what it’s like to live with an EV, away from the pressure of a dealership.
But the bulk of the events happened on the weekends surrounding Earth Day, April 22, so there were several last weekend and will be even more this upcoming weekend.
There are plenty of events in the big cities where you’d expect, but Plug In America wanted to highlight a few of the events in smaller places around the country. Here’s a sampling of upcoming events:
Big Island EV – Cruise and Picnic in Waimea, HI on April 26, 10am-1pm – EV drivers will congregate in various places around the Big Island (Kona, Waimea, Waikoloa and Hilo), then drive up Saddle Road to the Gil Kahele Recreation Area on Mauna Kea for a potluck and a chance to talk about the experience of owning EVs on the Big Island.
Santa Barbara Earth Day 2025 and Green Car Show in Santa Barbara, CA on April 26-27, 11am-8pm – This is part of Santa Barbara’s Earth Day celebration, which routinely attracts 30,000 participants and is one of the longest-running Earth Day celebrations on the planet. The Green Car Show includes ride & drives and an “Owners Corner” where owners can showcase their EVs and attendees can check them out and ask questions.
Earth Day’25 – EV’s role in a sustainable future in Queretaro City, Mexico on April 26, 9am-4pm – The sole Mexican event, this is a combined in-person/online seminar at the Querétaro Institute of Technology.
Norman Earth Day Festival in Norman, OK on April 27, 12-5pm – Another municipal Earth Day festival, with hands-on activities for kids to learn about the environment. A portion of the parking lot reserved for an EV car show for EV owners who pre-register to show off their vehicles.
Oregon Electric Vehicle Association Test Drive & Information Expo in Portland, OR on April 27, 10am-4pm – This one is at Daimler Truck’s North American HQ, and will have several EVs for test drives, owner displays (including DIY gas-to-EV conversions), and keynote presentations by EV experts. They’ll even have a 1914 Detroit Electric EV available for test rides!
And, we at Electrek want to give a shoutout to Rove’s EV Drive Days in Santa Ana 10am-3pm April 28 – ROVE is the company behind the “full-service” EV charging concept that we’ve talked about several times here on Electrek, and we like what they’re doing for EV charging. They’ve hosted a few community events, and this is their contribution to Earth Month.
Each event has a different assortment of activities (e.g. test drives won’t be available at every event, generally just the larger ones attended by local dealerships), so be sure to check the events page to see what the plan is for your local event.
These events have offered a great way to connect with owners and see the newest electric vehicle tech, and even get a chance to do test rides and drives in person. Attendees got to hear unfiltered information from actual owners about the benefits and trials of owning EVs, allowing for longer and more genuine (and often more knowledgeable) conversations than one might normally encounter at a dealership.
And if you’re an owner – you can show off your car and answer those questions for interested onlookers.
To view all the events and see what’s happening in your area, you can check out the list of events or the events map. You can also sign up to volunteer at your local events, and if you plan to show off your electric car, you can RSVP on each event page and list the vehicle that you plan to show (or see what other vehicles have already registered).
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